Mach10 Automotive, an industry firm offering advisory services including dealer operations improvement and succession planning, announced the hiring of Carsten Preisz as chief marketing officer. Mach10 said Preisz will lead the marketing function including its branding and PR initiatives, as well as support the sales department in its efforts to develop new business opportunities. “We […] [Read More]

Monday’s solar eclipse lasted less than five minutes. The duration of this year’s spring market doesn’t appear to be that short, but Black Book is already seeing signs of fading. Analysts said wholesale prices still rose 0.24% last week, but that wasn’t as much as the 0.39% lift Black Book recorded a week earlier. “The […] [Read More]

Regardless of the obstacles, dealership groups are determined to keep growing. That’s the big takeaway from Kerrigan Advisors’ newly released 2023 Blue Sky Report, which showed dealership buy-sell activity up 6% year-over-year, with a record 397 completed transactions in 2023. Among those sales, the sell-side advisors for auto dealers said, was the third-largest transaction in […] [Read More]

McGovern Auto Group has gone big into the collision repair space. The dealership group, which operates 29 locations in Massachusetts, New York and New Hampshire, has opened a body shop it said is the largest in the Northeast and the largest dealer-owned collision center in the U.S. MAG Collision Center in Shrewsbury, Mass., is a […] [Read More]

Auto recalls rose sharply in the first quarter of 2024, according to the inaugural Recall Report compiled by customer retention platform BizzyCar. Using data from the Department of Transportation and the National Highway Traffic Safety Administration, BizzyCar found there were 105 recalls issued in Q1, affecting some 9.7 million vehicles. The company said the recalls […] [Read More]

Federal Reserve chair Jerome Powell again reiterated how policymakers arrive at their decisions involving interest rates when he appeared at the Stanford Business, Government and Society Forum at Stanford University last week. But Powell also delved into other topics such as transparency and accountability, highlighting steps the Fed takes to maintain public confidence and trust. […] [Read More]

Canadian Black Book has hired former Dealertrack executive Alysha Bell as senior director of sales. Bell spent nearly 20 years with Dealertrack, serving as national sales director and director of performance management, among other roles. She has received numerous awards during her career, including her selection as one of Auto Remarketing Canada’s Remarketing’s Under 40 […] [Read More]

In a new series of the Auto Remarketing Podcast, Cherokee Media Group interviews “Dealer Entrepreneurs” — auto retail leaders, who in addition to their roles at dealerships, have also launched outside companies/startups in the automotive space. Kicking off this series is a conversation with Ryan Maher, who is the founder of BizzyCar, which provides a […] [Read More]

Wholesale vehicle prices last month were down double-digit-percentages from March 2023, but whether the close of the first quarter represented a strong spring market is up for some debate. It may depend on which industry index you’re observing. Still, a common theme of “normalcy” certainly has emerged in the used-car market. On Monday, Black Book […] [Read More]

Electric-vehicle naysayers likely harp on challenges such as outdated and insufficient infrastructure, alongside environmental regulatory programs, as hurdles to continued expansion of EVs and battery manufacturing in the U.S. U.S. law firm Troutman Pepper acknowledged those elements and other risks undermining EV adoption in its new industry report released on Monday. But Troutman Pepper also […] [Read More]